Listening Guide for Market Structure 1. What are the four major types of Market Structures? 2. Which of the four mentioned in (1) is most desirable Why do you think that is so? 3. Which of the four mentioned in (1) is the least desirable? Why do you think that is so? 4. Discuss the 5 main features of the perfect competition 5. The video argues that perfect competition does not exists in the modern world. What is the closest market structure to perfect competition in the real world? 6. What feature plays an important role in monopolistic competition 7. In your own words, why do you think perfect competition is hard to find in the real world